Chapter 20 Economic Challenges

1. federal governments policy of taxing and spending
5. economic pattern in which an economy goes through good time and bad times
8. method of settling labor disputes in which n expert on labor related examines an issue and recommends a solution
10. lowest point in the business cycle
11. labor union members walk off a job if employers do not agree to union demands
12. period of the business cycle marked by growth
13. business costs such as wages, payments for raw materials, transportation, and interest on boney borrowed
15. work slowdown or action short of a strike
17. very low trough when when unemployment becomes very high
18. labor expert's decision on a labor issue is binding on both sides

2. organizations of workers formed to improve workers' wages and working conditions
3. marching in front of one's workplace, often with signs, to encourage other workers not to work
4. high point in the business cycle when expansion and inflation stop
6. rise in cost of goods and services
7. period in the business cycle when businesses fail, people become unemployed, and profits fall
9. federal government's policy regarding money
14. union leaders and employer representatives meet to reach an agreement on an issue
16. slow period in business cycle